Vaughn, New Mexico Property Taxes
The median property tax rate in Vaughn, NM is 0.94%, slightly lower than the national median of 0.99% but higher than the New Mexico state median of 0.86%. With a median home value in Vaughn of $47,778, the typical annual property tax bill is $328, which is significantly below the national median of $2,690. Property taxes in Vaughn are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Vaughn's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Vaughn or another part of Guadalupe County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Vaughn, New Mexico Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,720
Ownwell’s Vaughn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Vaughn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vaughn to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Vaughn, New Mexico
Property taxes in Vaughn, New Mexico, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Vaughn is 0.94%, which is below the U.S. national median of 0.99%. Local government entities within Vaughn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vaughn estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Vaughn's effective property tax rate to other counties in New Mexico and the national median. For comparison, the zip code 88353 has both the highest and lowest median property tax rate of 0.94%. Understanding how these cities compare with Vaughn provides valuable insights into the varying tax landscape across Guadalupe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Vaughn Tax Rate
0.94%
Average Guadalupe County Tax Rate
0.78%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Vaughn, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88353 | 0.60% | 0.67% | 0.94% | 0.94% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Vaughn, New Mexico
In Vaughn, New Mexico, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Guadalupe County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Vaughn, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Vaughn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Vaughn are both $328.00, found in the zip code 88353.
Average Vaughn Assessed Value
$47,778
Average Guadalupe County Assessed Value
$22,948
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Vaughn, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88353 | $16,487 | $20,940 | $47,778 | $123,000 | $429,101 |
Source: Ownwell
Property Tax Bills Across Vaughn, New Mexico
Property tax bills in Vaughn, located in Guadalupe County, NM, are determined by assessing the property's value and applying the local tax rate. The assessed value is a percentage of the market value of the home, which, in Vaughn, has a median home price of $47,778. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the tax bill, including the property's location, the local government's budget needs, and any applicable exemptions or abatements. For instance, in Vaughn, the property tax bills range significantly, with the 25th percentile at $126 and the 75th percentile at $535, demonstrating the variability based on these factors. Homeowners in Vaughn can expect their property tax bills to reflect these calculations and variations. Understanding how these elements interact can help homeowners anticipate their financial responsibilities and plan accordingly. Compared to the national median property tax rate of 0.99%, Vaughn's property tax bills are relatively modest, providing some financial relief to its residents.
Average Vaughn Tax Bill
$328
Average Guadalupe County Tax Bill
$178
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Vaughn, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88353 | $93 | $126 | $328 | $535 | $1,233 |
Source: Ownwell